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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $294.90
- 4 Days on Market
- MLS # : NDP2003004
- Updated Date : 11/26/2020 at 20:52
CONSTRUCTION
- Beds : 3
- Floor Size : 1,509 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
If you’re looking for a home on a cul-de-sac with a huge back yard and RV parking- this is the house for you! This beautiful home is nicely landscaped and is well maintained. There is also a massive covered patio, including a spa gazebo and lighting for entertaining and relaxing. The adjacent area, next to the patio, is nicely hardscaped with pavers and includes a firepit. There is beautiful wood and upgraded tile flooring throughout this wonderful home. The large kitchen, with stainless steel appliances, is open to the family room- which includes a fireplace to enjoy during those cool winter evenings. There is plenty of room to park all of your toys in the back yard parking area. You will want to make this house your home!
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MARKET HIGHLIGHTS
- The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
- Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
- As part of Southern California area, Inland Empire market inherits all the benefits from the area.
- Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Murrieta Oaks
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Murrieta Oaks
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,642 |
| Property Tax | -$449 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$109 | |
|
CASH FLOW
-$413
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$445,000
PROJECTED PRICE
$1,850
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$123,675
LOAN DETAILS
$1,642
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $111,250 |
| Loan Amount | $333,750 |
1.42
YEARS SAVED
$3,978
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$1.23
LIST RENT PER SQFT
-
$1,856
COMP ESTIMATED VALUE -
$1.23
COMP AVG. RENT PER SQFT
Comps Range
-
24560 Adanti Ct Murrieta, CA 2
- 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,850
- $1.23
-
24687 New Haven Drive Murrieta, CA 1
- 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 1988
LEASED 09/08/20- Rent
- Rent Per SQFT
- $1,700
- $1.21
-
25172 Via Las Lomas Murrieta, CA 3
- 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1988
LEASED 10/28/20- Rent
- Rent Per SQFT
- $1,999
- $1.22
-
24528 Ridgewood Drive Murrieta, CA 4
- 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1988
LEASED 09/23/19- Rent
- Rent Per SQFT
- $2,100
- $1.25
-
40034 Palma Vista Street Murrieta, CA 5
- 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988
LEASED 08/08/20- Rent
- Rent Per SQFT
- $2,250
- $1.24
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NDP2003004
Last Updated: 11/26/2020
